Naziran and her husband both are very hardworking persons and they own and operate a dairy business. Their work is home-based. They have a buffalo from which they get milk that they sell to customers. In this way, they generate income for the family.
Naziran has applied for a loan from Kiva partner Asasah for her dairy business. She will invest the loan in buying another buffalo for increasing the milk quantity and the sales.
Naziran and her husband are very confident about the positive financial growth of their business.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid